J. Safra Sarasin Holding AG Decreases Stake in MP Materials Corp. (NYSE:MP)

J. Safra Sarasin Holding AG cut its stake in shares of MP Materials Corp. (NYSE:MP - Free Report) by 15.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,861 shares of the company's stock after selling 12,272 shares during the quarter. J. Safra Sarasin Holding AG's holdings in MP Materials were worth $1,012,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in MP. Quadrant Capital Group LLC boosted its stake in shares of MP Materials by 40.3% in the fourth quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company's stock worth $38,000 after buying an additional 701 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of MP Materials during the 4th quarter worth approximately $40,000. Geneos Wealth Management Inc. increased its holdings in shares of MP Materials by 205.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company's stock valued at $43,000 after purchasing an additional 1,849 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of MP Materials by 204.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company's stock valued at $51,000 after purchasing an additional 2,200 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in MP Materials by 69.3% during the fourth quarter. GAMMA Investing LLC now owns 3,775 shares of the company's stock worth $59,000 after buying an additional 1,545 shares in the last quarter. 52.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MP has been the subject of a number of analyst reports. BMO Capital Markets upped their price objective on shares of MP Materials from $22.00 to $29.00 and gave the stock a "market perform" rating in a research report on Thursday, March 20th. DA Davidson increased their price target on MP Materials from $25.00 to $32.00 and gave the stock a "buy" rating in a research report on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $23.61.

MP Materials Price Performance

Shares of NYSE MP opened at $22.86 on Wednesday. The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of -38.75 and a beta of 2.24. MP Materials Corp. has a 52 week low of $10.02 and a 52 week high of $29.72. The firm has a 50-day simple moving average of $24.62 and a 200-day simple moving average of $21.30. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88.

MP Materials (NYSE:MP - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.05). The business had revenue of $60.99 million during the quarter, compared to analysts' expectations of $50.71 million. MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. On average, equities analysts predict that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Ryan Corbett sold 15,000 shares of MP Materials stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $27.00, for a total transaction of $405,000.00. Following the sale, the chief financial officer now owns 214,812 shares of the company's stock, valued at approximately $5,799,924. The trade was a 6.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James H. Litinsky sold 386,223 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $24.01, for a total value of $9,273,214.23. Following the completion of the transaction, the chief executive officer now owns 15,643,076 shares of the company's stock, valued at $375,590,254.76. The trade was a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,330,015 shares of company stock worth $34,559,781. 12.60% of the stock is owned by corporate insiders.

About MP Materials

MP Materials Corp., together with its subsidiaries, produces rare earth materials. The company owns and operates the Mountain Pass Rare Earth mine and processing facility in North America. It holds the mineral rights to the Mountain Pass mine and surrounding areas, as well as intellectual property rights related to the processing and development of rare earth minerals.

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